Eisner: Writers Strike "Over"

Former Disney chairman Michael Eisner said on CNBC this evening that both sides have shaken hands on a deal, and all that's left is for the Writers Guild of America members to ratify the deal.

“It’s over. They made the deal, they shook hands on the deal. It’s going on Saturday to the writers in general it’s impossible (the rank and file writers) will turn it down. A deal has been made. They’ll be back to work very soon. I know it’s over."

Eisner on why the writers mis-timed their labor action:

"I think this was not the time (to strike). If there was going to be a strike, it should have been three years from now when you really knew the definition of the online business and where you knew the revenues were coming. I think a lot of writers lost their deals and they will not be reinstated. I think one of the reasons that some of the companies do not have this economic problem is they cut back on a lot of those big deals."